Musa's parents deposited $20,000 in a long-term savings account ...

[jenna1]

Question 1

Moriaty owes two debt payments—a payment of $6.7 million due in twelve months and a payment of $8.75 million due in twenty-one months. If Moriaty makes a payment of $7 million now, when should he make a second payment of $7.9 million if money is worth 11.5% compounded semi-annually?
◦ 35 months
◦ 21 months
◦ 26 months
◦ 19 months
◦ 14 months

Question 2

Musa's parents deposited $20,000 in a long-term savings account as a wedding expenditure for their grand daughter at her birth, expecting to triple by the time she gets married at the age of 22. Calculate the rate of return compounded monthly for the savings account.
◦ 0.417%
◦ 0.5%
◦ 0.05%
◦ 4.17%
◦ 5%

[popopong]

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[jenna1]

Excellent

[popopong]

Great! Please up vote

[曹昭]

thanks